Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 1998 (3) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1998 (3) TMI 525 - SUPREME COURTAcquisition of the undertaking of the Indore Textiles Ltd. by the Indore Textiles Limited (Upkaram Ka Arjan Aur Antaran) Adhiniyam, 1986 challenged Held that:- Appeal dismissed. The provision for taking over of the undertaking is merely incidental to the acquisition of the undertaking and is not in conflict with section 20 of the IDR Act. Furthermore, the extended period of management with the Central Government was coming to end on February 11, 1986, and the impugned Ordinance was issued one day before that, i.e. , on February 10, 1986. This was obviously done with a view that there should be no break and the management of the undertaking should continue with the Government even after February 11, 1986. The so called overlapping of the management for one or two days, i.e., February 10, 11, 1986, would not and cannot affect the validity of the Adhiniyam.
|